Norges Bank Portfolio holdings
Norges Bank, established in 1816 and headquartered in Oslo, Norway, serves as the central bank of Norway, responsible for monetary policy, issuing the Norwegian krone, and maintaining financial stability. Beyond its traditional central banking role, it oversees the management of the Government Pension Fund Global (often called the Norwegian Oil Fund), one of the world’s largest sovereign wealth funds, valued at over $1 trillion, which invests Norway’s oil and gas revenues in global equities, bonds, and real estate. The fund’s investment arm, Norges Bank Investment Management (NBIM), operates independently to ensure long-term wealth preservation for future generations, emphasizing sustainable and ethical investing practices. With its dual role, Norges Bank uniquely blends central banking duties with stewardship of a massive global investment portfolio.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Linde
LIN
|
+$2.66B |
| 2 |
Cigna
CI
|
+$285M |
| 3 |
Boston Properties
BXP
|
+$242M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$242M |
| 5 |
Aptiv
APTV
|
+$240M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$646M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$543M |
| 3 |
PX
Praxair Inc
PX
|
+$305M |
| 4 |
COL
Rockwell Collins
COL
|
+$240M |
| 5 |
ANDV
Andeavor
ANDV
|
+$222M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.08% |
| 2 | Financials | 16.89% |
| 3 | Healthcare | 14.43% |
| 4 | Consumer Discretionary | 11.2% |
| 5 | Communication Services | 9.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1026
Cirrus Logic
CRUS
$6.53B
| $33.9M | 0.01% |
1,021,724
| – | – |
|
|
OPTU
1027
Optimum Communications Inc
OPTU
$298M
| $33.9M | 0.01% |
2,051,174
| – | – |
|
1028
Myriad Genetics
MYGN
$270M
| $33.8M | 0.01% |
1,162,812
| – | – |
|
|
IRBT
1029
DELISTED
iRobot
IRBT
| $33.8M | 0.01% |
403,477
+20,298
| +5% | +$1.84M |
|
1030
Valvoline
VVV
$4.9B
| $33.8M | 0.01% |
1,745,194
+372,943
| +27% | +$7.45M |
|
|
EV
1031
DELISTED
Eaton Vance Corp.
EV
| $33.7M | 0.01% |
959,175
+48,077
| +5% | +$2.03M |
|
1032
Alarm.com
ALRM
$2.71B
| $33.7M | 0.01% |
650,450
+71,481
| +12% | +$3.45M |
|
1033
FNB Corp
FNB
$6.73B
| $33.7M | 0.01% |
3,426,836
| – | – |
|
1034
Western Alliance Bancorporation
WAL
$8.79B
| $33.7M | 0.01% |
853,176
+17,577
| +2% | +$831K |
|
|
SRC
1035
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $33.7M | 0.01% |
955,636
+30,357
| +3% | +$1.17M |
|
|
DHC
1036
Diversified Healthcare Trust
DHC
$2.15B
| $33.7M | 0.01% |
2,873,403
| – | – |
|
|
BCPC
1037
Balchem Corp
BCPC
$5.38B
| $33.6M | 0.01% |
429,389
+11,416
| +3% | +$1.03M |
|
1038
Brink's
BCO
$4.88B
| $33.6M | 0.01% |
519,919
+58,270
| +13% | +$3.84M |
|
1039
Edgewell Personal Care
EPC
$1.25B
| $33.5M | 0.01% |
898,073
| – | – |
|
1040
Flowserve
FLS
$9.71B
| $33.5M | 0.01% |
881,550
| – | – |
|
|
PRA
1041
DELISTED
ProAssurance
PRA
| $33.5M | 0.01% |
825,793
| – | – |
|
1042
Columbia Sportswear
COLM
$3.04B
| $33.4M | 0.01% |
396,671
| – | – |
|
1043
Sunstone Hotel Investors
SHO
$2.19B
| $33.3M | 0.01% |
2,557,250
+202,738
| +9% | +$2.98M |
|
|
AVNS
1044
DELISTED
Avanos Medical
AVNS
| $33.3M | 0.01% |
742,430
+119,555
| +19% | +$6.26M |
|
1045
Hilton Grand Vacations
HGV
$3.62B
| $33.2M | 0.01% |
1,256,511
-21,528
| -2% | -$625K |
|
|
I
1046
DELISTED
INTELSAT S. A.
I
| $33.2M | 0.01% |
+1,550,000
| New | +$41.9M |
|
1047
CONMED
CNMD
$1.39B
| $33.1M | 0.01% |
516,261
| – | – |
|
1048
Timken Company
TKR
$9.56B
| $33.1M | 0.01% |
886,875
| – | – |
|
|
SAGE
1049
DELISTED
Sage Therapeutics
SAGE
| $33.1M | 0.01% |
345,282
+8,938
| +3% | +$1.02M |
|
1050
WIX.com
WIX
$2.3B
| $33M | 0.01% |
365,048
+53,686
| +17% | +$5.07M |
|
Similar funds
Norges Bank's Q4 2018 Portfolio in Review
As of Q4 2018, Norges Bank held 2,178 positions worth $269B, down 13% from $308B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Trading was light in Q4 2018: portfolio turnover was 4.1%. Norges Bank opened 36 new positions and exited 54, leaving the 2,178-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 18% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q4 2018 buy was Linde: 16,803,065 shares worth $2.62B.
- Norges Bank added most to Cigna in Q4 2018, an estimated $285M increase.
- Norges Bank's biggest Q4 2018 reduction was Boston Scientific, cutting an estimated $168M.
- Norges Bank fully exited Aetna Inc in Q4 2018, selling an estimated $646M.
- Norges Bank's ten largest holdings make up 16% of its $269B portfolio in Q4 2018.
- Norges Bank opened 36 new positions and closed 54 in Q4 2018.
- Norges Bank's portfolio value fell 13% quarter-over-quarter to $269B.
Based on Norges Bank's 13F filing for Q4 2018, filed 8 Feb 2019.